Building Details

Buildings 2

Listing Agency: Gabler Realty LLC J***@gablerrealty.com Show Phone

Listed By: Christina A Center · License #40CE1129368 Show Phone

Source: Exprealty

Added: Sep 16 Changed: Oct 10 Last Checked: Oct 15 at 3:31AM

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Investment Insights

Based on property information with market context.

This 1,328-square-foot duplex contains two apartments: a first-floor one-bedroom, one-bath unit and a second-floor two-bedroom, one-bath unit. Hardwood floors are present in both apartments, while the lower unit also has built-ins and a separate living and dining room. The upper apartment combines its kitchen and dining area. A detached one-car garage, front porch, partially finished basement, walk-up attic, and fenced yard add to the property’s existing features.

The home is on Albany’s Delaware Avenue and along a bus line. Restaurants and parks are among the nearby amenities. The property is also being offered as part of a five-property portfolio.

Key Highlights

• Two apartments: one‑bedroom, one‑bath downstairs and two‑bedroom, one‑bath upstairs
• 1,328 square feet
• Detached one‑car garage

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$15,124

Cap Rate

6.44%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$302,480 $302.5K

Cap Rate 7%

$216,057 $216.1K

Cap Rate 9%

$168,044 $168.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,328 SF

Gross rent

$23.1K $17.40/SF

− Vacancy

−$1.5K −$1.13/SF

EGI

$21.6K $16.27/SF

− OpEx

−$6.5K −$4.88/SF

NOI

$15.1K $11.39/SF

Area

Albany, NY

Vacancy

6.50%

Lease Rate

$17.40 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$302,480

Cap Rate 7%

$216,057

Cap Rate 9%

$168,044

Alternative Uses

Best Use

Multifamily LT 5

$216.1K

$189.1K – $252.1K (±1% cap)

NOI $15,124 @ 7.0% cap · market cap 6.44%

Second Best

Apartment 5plus

$193.8K

$169.6K – $226.1K (±1% cap)

NOI $13,565 @ 7.0% cap · market cap 5.77%

Theoretical Best

Office A

$350.4K

$306.6K – $408.8K (±1% cap)

NOI $24,526 @ 7.0% cap · market cap 10.44%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Real Estate Agency HVAC Service Electrical Service Dental Office Law Firm Accounting Firm

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

706

Businesses Nearby

Explore this area Business Placement

Demographics for 12209, NY

10,231

Population

4,768

Households

2.1

Avg Household Size

37

Median Age

46%

College-Educated

88%

High-School Grad

2.2 sq mi

ZIP Area

4,650

Density / Sq Mi

$81,642

Median Household Income

$51,848

Median Earnings

$1,165

Median Rent

$200,800

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Two apartments offer separate one- and two-bedroom layouts, with a fenced yard and additional basement and attic space.

Where is this duplex located?

The property is located at 476 Delaware Ave Albany, NY.

What is the asking price?

The asking price for this property is $235,000.

What are key features of this property?

This property features: Two apartments: one‑bedroom, one‑bath downstairs and two‑bedroom, one‑bath upstairs; 1,328 square feet; Detached one‑car garage